Why Married Couples Are Wealthier

As anticipated, I spent most of the weekend preparing and reviewing tax returns.  When I’m stuck in the office during this time of the year, I’m reminded how lucky I am to have Ben.

For the second weekend in a row, he’s done the majority of the household chores, like going to the grocery store, laundry, and getting us dinner. Plus, he’s gotten up early to have breakfast with me and hang out while we can. When I come home, he’s content relaxing, watching tv, and letting me have my Scotch.

I’m a lucky man and will continue to be thankful for everyday that I get to spend with him.

Other than starting off the week on a mushy note, Ben’s support reminded me of the huge advantage it is to have a person in your corner helping out when you need it, both practically and financially.  

Research scientist Jay Zagorsky found that married individuals almost double their wealth compared to those who stay single. The rationale comes from the fact that couples can take advantage of economies of scale – sharing costs such as rent/mortgage, appliances, utilities etc. But also, like in our case, they can divide and conquer when it comes to one person needing to focus on his or her career. Couples can provide encouragement and financial support in time of need.

Of course, the key is having a lasting marriage.  Zagorsky also mentions divorce can wreak havoc on your finances.

Here are some other reasons why married couples are wealthier. Just food for thought as you start your week and another reason to give your significant other an extra kiss this morning.